Heilig meyers liquidating trust
Adversary defendant in Enron Corporation Chapter 11 case.
Once the Bankruptcy Court approves the Disclosure Statement, the Companies will ask creditors to vote in favor or against the Plan.
In 2005, Room Store, the only part of Heilig-Meyers remaining, emerged from Chapter 11 bankruptcy after receiving ,000,000 to pay off its debts; Room Store would be liquidated seven years later.
The company, which had sponsored NASCAR Winston Cup drivers Bobby Hillin, Jr., Dick Trickle and Mike Wallace, was one of the last furniture companies to finance its own accounts.
The Initial Plan contemplated that only Room Store would emerge as a reorganized business enterprise. and the Creditors' Committee determined that the value of Room Store as a going concern would be best preserved and maximized for the benefit of the creditors of the Companies and Room Store by filing and confirming a stand alone plan of reorganization for Room Store.
Accordingly, on February 2, 2005, a Joint Plan of Reorganization Proposed by HMY Room Store, Inc.